The Dock token incentivise applications to exchange and transfer data between two or more decentralized applications.

Dock.io’s native cryptocurrency is given as reward to applications that facilitate exchange of data.

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Project overview

Built on top of Ethereum, Dock.io uses a special data encryption technology together with its native cryptocurrency to encourage data sharing between platforms.

It connects the online profiles and reputation of users using the blockchain.

What does the company/project do?

It’s a decentralized platform that’s not controlled by any third-party. Using the Dock app, users update their information onto the Dock.io platform.

Users get full control and ownership of their data, although they are not incentivized to share it.

How advanced is the project?

There’s a working application with thousands of users.

The Dock App boasts of having over 200, 000 registered users.

What are the tokens used for?

DOCK is the native digital currency token of the Dock.io platform. It’s used as a means of payment on the platform.

It’s also given as a reward to applications that facilitate exchange of data.

As a utility token, DOCK’s value is expected to appreciate once the platform gains widespread adoption as more people will need it to access the platform.

Decentralizing the data sharing model using the blockchain

The data market has for a long time been centralized and few organizations are known to monopolize data. In most cases, these organizations hoard data.

Dock seeks to decentralize data by using a blockchain.

Their solution allows users to own and control data and to exchange it with two or more decentralized applications.

How users share data on Dock

Once in the Dock platform, users can form a network among themselves.

All the data is then encrypted and anchored on the blockchain. Data originators are required to be on the internet to share fresh data on the platform.

The platform allows users to share data selectively using third party applications allowed in the user-application contract.

Once you share data with an external application, you lose control of your data.

A few technical details

Dock.io uses the IPLD and IPFS technology that helps it beat the scalability issues associated with earlier blockchains.

IPFS is Interplanetary File System (IPFS), an open source storage protocol.

The Dock.io network allows users to create an ad-hoc publish-subscribe network. The IPFS network is a collection of nodes that store hashed files.

One interesting fact of the Dock platform is that users can share data even when they are not connected to the internet.

They are only needed to be online when sharing data that has never been published on the platform.

Using the Dock cryptocurrency, users also vote on the platform to ensure the integrity of data packages in case there’s a disagreement.

Tokenomics and incentives

The Dock cryptocurrency is using a unique tokenomics model that denominates its tokens in fiat currencies instead of BTC or ETH.

Their aim is to encourage price stability on the platform as cryptocurrencies are known to be volatile.

They also use a unique incentives model that’s focused on rewarding DApps instead of users.

Incentives for applications

The Dock ecosystem uses the Dock token to incentivize applications to share data with each other.

On the platform, data sharing between apps is involuntary, meaning that an application cannot be prevented to pay for data that they need to use.

The platform gives users the sole discretion to decide on who accesses their data and this is a clever way of discouraging applications from hoarding data.

Incentives for users

Unlike in most platforms where the users are rewarded, the Dock platform rewards applications.

This way, the creators believe that users will attach more value to data and won’t need to provide false data to earn a passive income.

It’s the team’s way of weeding out spammy or false information.

What are they providing?

Instead of rewarding users, Dock is giving them control of their data. They get to decide what to share and with whom.

They also get convenience as they get to share all their information from one platform, the Dock.io application.

Ecosystem and partnership investments

The Dock.io platform has set aside 30% of all tokens to be ecosystem incentives. This rewards pool seeks to promote the growth of the platform.

It’s important to note that Dock has some impressive partners who’ve invested into the project, including Connect Capital and L2 Ventures.

Token burning mechanism

Dock developers have also devised a clever way of keeping spammers and DDoS attackers at bay; they use the token burning mechanism.

Tokens are also burnt to cut their supply, which then raises their value.

Dock development status and roadmap

The Dock.io team first created the Dock App in January before conducting the token sale event in February.

With the App, people are already trying out the service by migrating their personal data to the app.

So far, Dock says that over 15 million people are using Dock’s partner applications, including Fund Request, Remote, and Smart recruiters.

According to their website, the team claims that the app has over 200, 000 registered users.

In 2019, the team plans to launch the Network Data exchange to open up the ecosystem to developers.

Dock ICO: $20 million raised

The Dock ICO was a success. It hit its funding target of $20 million within days.

During the token sale event, the team sold 30% of its 1 billion tokens. This success didn’t come without challenges.at first, ICO investors fell prey to scammers, leading to loss of money.

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